Volvo Penta and Yamaha Motor have decided to set up joint working groups to evaluate the potential for deeper collaboration between the companies.
“Volvo Penta is a world leader when it comes to marine power systems,” said Volvo Penta's President and CEO, GÃ¶ran Gummeson. “Yamaha Motor is a world leader in the outboard engine business. Our customer offerings complement one another, so we see tremendous potential for extending our cooperation with a view to creating the marine world's most powerful combination.”
Takaaki Kimura, Representative Director and Senior Managing Executive Officer of Yamaha Motor, also looks forward to what the two companies can accomplish through further collaboration. “We hope that an extended collaboration with Volvo Penta, in which we will benefit from the strengths of both companies, will enable us to create a long-term, competitive alliance with unique opportunities to tackle the challenges facing the marine industry.”
On December 6, Volvo Penta and Yamaha Motor announced that they had signed an agreement involving technological collaboration relating to the development of electronic control systems for boats. This collaboration is designed to produce technological synergies in the increasingly important field of electronics.
The companies have decided to take things further and conduct joint studies on ways to further extend cooperation between them. The collaboration between Volvo Penta and Yamaha Motor will not include ownership but may include working together in different areas in which the companies see opportunities for cooperation as a result of complementary customer offerings.
Yamaha and Volvo Penta have already agreed on distribution cooperation for Volvo Penta's marine engines on the Japanese market and the parties will study if there are such opportunities for similar ways of cooperation in other markets.
In North America, Volvo Penta and Yamaha Motor have already cooperated in search for opportunities in marketing to individual boat builders, and they will continue with related efforts.
Service, logistics and aftermarket are other areas in which the two would like to look at opportunities for extended collaboration.